ABSTRACT
In recent years, an approach to full employment known alternatively as the Employer of Last Resort (ELR), the Job Guarantee (JG), and Public Service Employment (PSE) has been put forward as an effective strategy for eliminating involuntary unemployment and promoting economic stability. It has also been argued that the JG may be used to promote environmental sustainability and, more generally, as a vehicle for progressive social policies (Forstater, 2004). Most of the recent proposals for a JG have been put forward within what has come to be known as Modern Monetary Theory (MMT), a term that encompasses the chartalist approach to money and the functional finance approach to managing government budgets (Wray, 1998).
